UBS’ DONOVAN – Expect more mediocre growth and the G8 will accomplish nothing

29 May

Donovan sees the G8 meetings as being essentially irrelevant and useless. He believes as usual the meetings will achieve nothing. Donovan expects Euro growth to remain tepid and even mediocre. He calls for a rational approach to appointing the next IMF Head based on their candidacy rather than their nationality. However, he does not believe Greece can withdraw from the Euro and does not see emerging markets having a real impact, but will become relevant in 15 years. These last two points regarding Greece and emerging markets I disagree with but the rest of the video summarises the current European market dynamics quite well. Again I cannot subscribe to the institutional groupthink around the non-viability of a Greek Euro exit and the non-relevance of emerging markets.

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